Houston American Energy Begins Drilling in Colombia
Houston American Energy Corp. has commenced operations on the Tambaqui #2 well. The drilling of this well is expected to take about two weeks. This well is an offset to the Tambaqui #1 well on the 87,000-acre concession in Colombia in which the company recently purchased a 12.5% working interest.
"This is an important well for HUSA and offers the potential for significantly adding to HUSA's cash flow for 2003," stated John F. Terwilliger, President of Houston American Energy Corp. "Work has begun on the acquisition of 50 square miles of 3D seismic data on the Cara Cara Concession in which the company holds a 1.5% interest through an LLC. Both the drilling of the Tambaqui #2 well and the seismic acquisition are expected to provide the company with additional drilling locations for inclusion in 2003 activities."